Biffa says revenues now at 90% of last year’s levels

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() said it expects to have all staff back from furlough by the end of this month as profit improves and trading remains “slightly ahead” of its expectations for the year.

Revenues in August for the waste management group were around 10% lower than last year’s levels in August, with industrial and commercial (I&C) at 87% of last year’s levels and landfill at 86%.

This compared to the group being at 83% of pre-pandemic levels in June and 70% in April.

“As a result, underlying profit contribution is also continuing to steadily improve month on month,” Biffa said.

It said pressure on plastic prices will hit its PET plastic bottle recycling facility in Seaham, County Durham until it begins to produce food-grade recycled materials, which is expected from April next year, though its established food-grade recycling operations have been “largely unaffected”.

A first I&C business acquisition of the year has been completed and talks continue on “several other deals and the pipeline is expanding as expected”. 

The company added that “good progress” was being made on the Protos energy from waste project, with the EPC and funding aspects of the transaction now “well advanced”.

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